Tunisian President Kais Saied rejected conditions laid down by the International Monetary Fund (IMF), for bailing out the debt-ridden economy of the Northern African country. This has stalled the negotiations on the bailout package. The president said that conditions would lead to more poverty and are unacceptable
Tunisian President Kais Saied rejected conditions laid down by the International Monetary Fund (IMF), for bailing out the debt-ridden economy of the Northern African country. This has stalled the negotiations on the bailout package. The president said that conditions would lead to more poverty and are unacceptable.
Saied’s government reached an agreement in principle in mid-October for a nearly US$2 billion package from the IMF. But the deal has not been approved by the lender’s board on account of the heavy state subsidies on basic goods, particularly fuel.
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Tunisia has been undergoing mounting economic pains for a long, which was accentuated by the coronavirus pandemic and the fallout from Russia’s invasion of Ukraine. The IMF was originally expected to approve a bailout deal on December 19. But that was delayed pending a Tunisian budget. The present dilemma stems from the World Bank’s suspension of new lending to Tunisia last month after Saied sparked accusations of racism with incendiary comments against migrants from sub-Saharan Africa.
